but that s the type of discretion we need to have, just not parading out a whole series of different ideas unconnected to anything in particular. there s another question coming but can i just sneak in, you mentioned the 13-3 is gone and that the t.a.r.p. was helpful. though t.a.r.p. was very hard to get, took lot of political effort to get congress to pass it do you think with 13-3 gone we still have enough tools to deal with these rare but very severe crises? i don t think that if you have a committee of diverse people that you could get 13-3 acted in a timely manner. i mean, don kohn is sitting there. don probably could tell you that it wasn t self-evident to everybody that that was the desirable thing to do and the reason why that happens is that we all have this very unusual psychological problem. we believe we can forecast. and we can t. and in a financial crisis, by definition, is a dramatic decline in asset prices virtually overnight, and if that were anticipated
CSPAN U February 11, 2011
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when, why, a shocking new report from a court appointed examiner reveals new details on who might be to blame for the firm s collapse. the u.s. economy for sale, will the american consumer buy the role as economic savior? shopping for the real story on retail as squawk box begins right now and as i talk above a den of these people behind me. sorry. sorry. good morning, everybody. welcome to squawk box right here on cnbc. it is friday and we are raring to go. i m becky quick along with joe kernen and carl quintanilla. steve liesman is on set with us. we ll have more from him in just a moment. first, though, let s set the agenda for the trading day ahead. the dominating theme is going to be the consumer. two key economic reports. we have february sales coming out at 8:30 eastern time. then the latest read on consumer sentiment at 9:55. many chain stores reported stronger than expected sales for february. but some of the economists that were polled reported the headlin